Suppose that you plan to retire 35 years from now and want to receive a $5,000 retirement income per month after you retire. The return on your investment is 6% per year. How much do you have to save per month to meet your retirement goal until you retire? Assume that all your deposits and incomes are made at the end of each month and your life expectancy after your retirement is 20 years. If you receive a $5,000 perpetuity monthly income after you retire, how does your answer change?

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